Sawasdee – November 16, 2021

Tags: BCH, BTSGIF, NRF, PCSGH, THRE

To hobble up

Market outlook & strategy
The SET is expected to rise further to the next resistance at 1,645-1,650 although it seems it will hobble given the decrease in trading value. However, market sentiment will boosted by economic recovery after the reopening of Thailand and relaxation of COVID restrictions. Rising bond yields also boosted sentiment toward the bank sector. We assign support at 1,630-,1635. Tactically, we suggest buy selectively or speculate carefully.

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Company analysis
BCH – 3Q21: Beat estimates – Outperform
BTSGIF – 2QFY21: Loss in core operations – Neutral
NRF – 3Q21: Earnings grew YoY and QoQ – Outperform
PCSGH – 3Q21: Net profit growth from extra items – Underperform
THRE – 3Q21: Huge loss from reserve for COVID claims – Downgrade to Underperform
TIDLOR – 3Q21: Overall pretty much in line – Neutral